Wednesday, April 8, 2009

IMF gold sales

Voltron says: The central banks and IMF will empty their vaults of gold to keep the price down and mask inflation.  Consider this: British Prime Minister Gordon Brown, when he was chancellor of the Exchequer (equivalent of US Treasury Secretary) sold 400 tons (60%) of his country's gold reserve between 1999 and 2002 for an average price of $275 per ounce!  At the last G-20 meeting he was pushing the IMF to sell more gold.

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